Bill > A04893

This bill establishes the Manufactured Home Community Preservation Act, which creates a state program to help preserve mobile and manufactured home parks through financial and technical assistance. The bill defines key terms like "development rights" (the ability to change a property's use) and "current property value" (the fair market value of a property restricted to its current use). Under this program, the commissioner is authorized to provide guidelines for financial assistance, offer technical support to local governments and non-profit housing organizations, disseminate information about the preservation efforts, and report every two years on the program's activities. Importantly, the bill allows funds from the mortgage insurance fund to be used to support local governments and non-profit organizations in acquiring development rights or purchasing mobile home parks, with the ability to also assist in relocating residents. The goal is to protect affordable housing options for mobile and manufactured home park residents by providing mechanisms to prevent these communities from being converted to other uses, thereby helping to maintain stable and affordable housing for residents.